The nation’s biggest listed agribusiness said the three projects were expected to contribute at least $8 million of underlying earnings before interest, tax, depreciation and amortisation (EBITDA) by fiscal 2016 and more earnings benefit for the GrainCorp Oils divisions were expected beyond that.

The investment will add a combined 65,000 cubic metres of bulk storage capacity across the three sites.

GrainCorp chairman and acting chief executive
Don Taylor
said the investment formed part of the grains giant’s asset optimisation program, which is part of growth initiatives targeting $110 million of additional incremental underlying EBITDA.

“It’s pleasing to see continued growth and opportunity for the liquid terminals business we purchased in 2012," Mr Taylor said. “There is strong, confirmed customer demand for each of these projects and we have a high level of confidence in their ability to generate good returns for our business."

The announcement comes just a week after GrainCorp said it would invest $125 million in its edible oils and spreads manufacturing operations.